Anti-Money Laundering Risk Assessment

The New York Racing Association, Inc. (NYRA) is seeking a qualified firm to conduct an Anti-Money Laundering (AML) Risk Assessment for both NYRA and NYRA Bets operations, targeting comprehensive evaluation of AML/BSA risks. The assessment must align with the FFIEC BSA/AML Manual guidance and identify specific risk categories across products, services, customers, and geographic locations. Required deliverables include a final report with risk rating scores for each identified risk and a comprehensive written methodology detailing the assessment process. The contract term will be one year from execution, with two optional one-year renewals at NYRA's discretion, and each annual assessment must be completed and reported by December 31st. Proposals must be submitted to the Senior Director of Procurement located at 110-00 Rockaway Blvd, Suite 1, Ozone Park, NY 11417, no later than 5 PM on August 21, 2025. Bidders can submit proposals electronically through the Empire State Purchasing Group website (https://www.bidnetdirect.com/new-york/nyra) or manually at the specified address, with full responsibility for timely submission resting on the bidder.

The solicitation does not explicitly mention specific set-aside designations or restrictions on respondent types, nor does it outline precise evaluation criteria or budget ranges for the AML Risk Assessment. The opportunity appears open to qualified firms with expertise in AML risk assessment and financial regulatory compliance. While no incumbent vendors are identified, the procurement is specifically targeting Queens County within New York State. The document indicates that complete details and specifications are available for download from the Empire State Purchasing Group website, suggesting potential additional information about qualifications, technical requirements, or evaluation metrics. Although a specific budget is not disclosed, the comprehensive nature of the required risk assessment implies a substantial and detailed scope of work that would likely require significant professional expertise in financial risk analysis and regulatory compliance.